Accounting Policies of Sri Malini Spinning Mills Ltd. Company

Mar 31, 2013

1. Fixed Assets and Depreciation :-

The company does not own any fixed assets.

2. Valuation of Stores :-

The company did not carry any inventory during the year.

3. Revenue Recognition :-

The Income and Expenditure are accounted on accrual basis.

4. Retirement Benefits :-

Contribution towards Provident Fund is made to the appropriate authorities and is charged to Profit and Loss Account as they become due.

5. Borrowing Cost :-

Contribution costs that are attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets.

6. Segment Reporting :-

As per management''s perception the Company has only one business segment and hence disclosures and required by AS-17 Segment Reporting is not required.

7. Foreign Currency Transactions:- Nil

8. Deferred Revenue Expenditure:- Nil

9. Investments :- Nil

10. Related Parties, Transactions during the year under report is NIL

11. Deferred Tax :- Nil

12. Research and Development:- Nil